Arrow Electronics price target raised to $131 from $116 at Truist

Truist analyst William Stein raised the firm’s price target on Arrow Electronics to $131 from $116 but keeps a Hold rating on the shares. The company’s Q4 results were "good" as the relatively slow normalization of the supply chain has spared Arrow Electronics a sharp revenue or margin impact so far, but the expected downcycle is still anticipated to be painful, the analyst tells investors in a research note.